Bengaluru: Medmonk, a California-based healthcare entity, and Boxershorts, India's largest boxer shorts online retail store, together secure Rs. 1.25 crore of funding through the investment platform cum television show, The Vault. Giving promising entrepreneurs an opportunity to pitch their ideas to a panel of investors and possibly get funded on the spot, the platform serves student community, rural & household ventures, startups, and budding entrepreneurs seeking funds for their business ideas. Medmonk secured a total investment of Rs.1 crore backed by Mohit Goel, CEO, Omaxe Limited, and Sudip Bandopadhyay, Chairman, Inditrade Capital. Boxershorts raised Rs.25 lakhs from Rahul Singh, Founder & CEO, The Beer Café, and Mohit Goel.
Speaking on the inauguration, Jatin Goel, Creator, The Vault says, “With the Indian entrepreneurial community buzzing with excitement about ‘The Vault’, we are very proud to have got the ball rolling with our inaugural episode. High on emotion, drama, and passion, it was everything that was promised. The fact that two of the four pitches made on the episode managed to cumulatively raise more than Rs.1 crore on the spot, underlines the kind of difference The Vault can make to the business dreams of our country’s emerging entrepreneurs. We are confident that, as the season progresses, we will be able to completely demystify the investment process and make entrepreneurship a household concept across India”.
One of its kind platform in India, The Vault aims to galvanize the youth of our country to follow their dreams and embark their entrepreneurial journey, with a vision to generate a culture of entrepreneurialism to promote and stimulate startup culture and innovation in India. The investors are the self-made entrepreneurs, who select the best business ideas and products that India has to offer to put their hard-earned money in with all emotions and drama captured on camera.